Meritage Homes Q3 Profit Rises - Quick Facts

(RTTNews) - Meritage Homes Corp. (MTH), a leading U.S. homebuilder, reported that its third-quarter net income increased to $38.19 million or $0.99 per share, from $6.78 million or $0.19 per share, last year.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.80 for the quarter. Analysts' estimates typically exclude special items.

Total closing revenue rose to $492.08 million, from $342.64 million, a year ago. Analysts expected revenue of $505.15 million for the quarter.

The company is projecting home closing revenue of approximately $1.8 billion for 2013, with earnings per share in the range of $2.95-$3.05. Analysts expect the company to report fiscal year profit per share of $2.76 on revenue of $1.83 billion.